{"id":25199,"date":"2024-12-03T02:37:50","date_gmt":"2024-12-03T02:37:50","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=25199"},"modified":"2024-12-03T02:37:50","modified_gmt":"2024-12-03T02:37:50","slug":"bitcoin-price-hovers-under-100k-is-momentum-fading","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=25199","title":{"rendered":"Bitcoin Price Hovers Under $100K: Is Momentum Fading?"},"content":{"rendered":"

Bitcoin price is struggling to test the $100,000 level. BTC is consolidating and might attempt another increase from the $95,000 support zone.<\/em><\/p>\n

Bitcoin trimmed all gains and retested the $95,000 zone.
\nThe price is trading below $96,500 and the 100 hourly Simple moving average.
\nThere is a new short-term bearish trend line forming with resistance at $96,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $96,500 resistance zone.<\/p>\n

Bitcoin Price Dips Again<\/h2>\n

Bitcoin price attempted to clear the $98,000 resistance zone<\/a>. However, the bears remained in action and BTC trimmed most gains. There was a move below the $96,500 support zone.<\/p>\n

The price even spiked below $95,000. A low was formed at $94,450 and the price is now consolidating losses. There was a minor increase above the $95,200 level. The price tested the 50% Fib retracement level of the downward move from the $97,396 swing high to the $94,450 low.<\/p>\n

Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average<\/a>. On the upside, the price could face resistance near the $96,250 level. There is also a new short-term bearish trend line forming with resistance at $96,250 on the hourly chart of the BTC\/USD pair.<\/p>\n

The trend line is close to the 61.8% Fib retracement level of the downward move from the $97,396 swing high to the $94,450 low. The first key resistance is near the $96,800 level. A clear move above the $96,800 resistance might send the price higher.<\/p>\n

<\/a><\/p>\n

The next key resistance could be $98,000. A close above the $98,000 resistance might initiate more gains. In the stated case, the price could rise and test the $98,800 resistance level. Any more gains might send the price toward the $100,000 level.<\/p>\n

Another Decline In BTC?<\/h2>\n

If Bitcoin fails to rise above the $96,250 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,000 level.<\/p>\n

The first major support is near the $94,500 level. The next support is now near the $93,200 zone. Any more losses might send the price toward the $91,500 support in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $95,000, followed by $94,500.<\/p>\n

Major Resistance Levels \u2013 $96,250, and $98,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is struggling to test the $100,000 level. BTC is consolidating and might attempt another increase from the $95,000 support zone. Bitcoin trimmed all gains and retested the $95,000 zone. The price is trading below $96,500 and the 100 hourly Simple moving average. There is a new short-term bearish trend line forming with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":25200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-25199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25199"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25199"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/25200"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}